Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-Wal-Mart has leased 24,688 sf of warehouse and distribution space at 19th Avenue & Pinnacle Park CommercePlex in the Deer Valley submarket. The value of the short-term lease is being kept under wraps, but rental rates for the space range from $5.76 per sf to $7.20 per sf.

The discount giant plans to use the facility at 23610 N. 20th Dr. as a regional overflow warehouse for Supercenters in Arrowhead, Deer Valley and Peoria, says Jeff Conrad of Lee & Associates Arizona, who represented the building owner, Santa Monica, CA-based EJM Development. Wal-Mart was represented by Steve Lenz of Frontera Development Inc. in Phoenix.

Conrad tells GlobeSt.com that Wal-Mart has several other warehouses in the Valley, but did not have a lot of options to choose from when it was looking for overflow space. The 186,000-sf, two-building project that Wal-Mart chose is now 90% leased to tenants that include Stanley Steamer and Taylor, MI-based Masco Corp. EJM is developing another 116,628-sf complex adjacent to the existing space.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.